Brief: Aquis Entertainment Announces Proposed Sale Of Casino Canberra Subject To Approvals

Aquis Entertainment

12/05/2022 24:00

May 12 (Reuters) - Aquis Entertainment Ltd  AQS.AX :
    * PROPOSED SALE OF CASINO CANBERRA SUBJECT TO APPROVALS
    * DEAL FOR A$52 MILLION
    * SIGNED A SHARE PURCHASE AGREEMENT WITH CAPITAL LEISURE &
ENTERTAINMENT PTY LTD FOR SALE OF UNIT AQUIS CANBERRA
    * UNDERTAKING A REVIEW FOR USE OF SALE PROCEEDS, INCLUDING
REPAYMENT OF DEBT & POTENTIAL DISTRIBUTION OF FUNDS TO
SHAREHOLDERS
    * ALSO CONSIDERING USING PROCEEDS TO REPAY SOME OR ALL OF
CONVERTIBLE LOAN BETWEEN CO & AQUIS CANBERRA
    * FOLLOWING TRANSACTION, CO WOULD CEASE TO HAVE AN OPERATING
BUSINESS
    * EXPECTS THAT ANY ACQUISITION OF A NEW BUSINESS WOULD BE
SUBJECT
TO A SEPARATE SHAREHOLDER VOTE

Source text for Eikon:  ID:nASX8D6fTr 
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